Tribune Creditors Attack Bid For Examiner

Law360, New York (February 12, 2010, 5:46 PM EST) -- A group of unsecured creditors is fighting a bid by bondholder trustee Wilmington Trust Co. to appoint an examiner to look into a 2007 leveraged buyout that saddled news organization Tribune Co. with more than $10 billion in debt.

The official committee of unsecured creditors filed an objection in the U.S. Bankruptcy Court for the District of Delaware on Thursday, claiming that appointing an examiner would not only be expensive and disruptive, it would duplicate steps already taken by the committee.